Thai Market Offers Hope
If You're Willing to Wait

There is light at the end of the tunnel, managers of Thai equity funds say. But until it gets closer, they plan to sit tight.

The last few years have been savage times for them. Although two years ago, many fund managers were euphoric about Thailand's prospects, the economy has begun to unravel since then, strained by banks' hefty exposure to the overbuilt property sector and a range of other problems. The stock market plummeted last year; Thai equity funds took a huge hit. For the 12 months ended May 2, the Thai equity-fund...